Albend Holmes wants to deposit $4,500 into a bank account that pays 8.25 percent per year. How

Fantastic news! We've Found the answer you've been seeking!

Question:

Albend Holmes wants to deposit $4,500 into a bank account that pays 8.25 percent per year. How many years will it take for your investment to grow to $10,000? (Round to the nearest year.)

Related Book For answer-question

Principles of Finance

ISBN: 978-1285429649

6th edition

Authors: Scott Besley, Eugene F. Brigham

See More Books

Posted Date: Jun 09, 2023 04:17 AM

See More Questions

Calculate all of the problems in the document below in an Excel spreadsheet or on a financial calculator. Please show your work in order to get credit. For each problem, state the inputs given, what...
1. What is the present value of a security that promises to pay you $5,000 in 20 years? Assume that you can earn 7 percent if you were to invest in other securities of equal risk. 2. An investment...
For your job as the business reporter for a local newspaper, you are given the task of putting together a series of articles that explain the power of the time value of money to your readers. Your...
Workplace stress is sometimes related to time management. Describe a time when you were stressed at work or school because of time management. Explain how you would advise an employee or student to...
Show that edge (u, v) is a. a tree edge or forward edge if and only if d[u] < d[v] < f[v] < f[u], b. a back edge if and only if d[v] < d[u] < f[u] < f[v], and c. a cross edge if and only if d[v] <...
The UNIX program, COPS, scans a given system for possible security holes and alerts the user to possible problems. What are the potential hazards of using such a system for security? How can these...
How to obtain a temporary restraining order?
On August 1, 2015, Trico Technologies, an aeronautic electronics company, borrows $21 million cash to expand operations. The loan is made by FirstBanc Corp. under a short-term line of credit...
A ceramic manufacturer promised to deliver 25 crates of vases to a Japanese importer under a "CFR" INTERCOM agreement. During transit, however, a large number of vases were broken. The buyer wants to...
Top Quality ApplianceLong Beach has just purchased a franchise from Top Quality Appliance (TQA). TQA is a manufacturer of kitchen appliances. TQA markets its products via retail stores that are...
Garden Landscapers is a monthly depositor whose 4th quarter FUTA taxes and 4th quarter voluntary deductions are displayed below. Record one journal entry to account for the payment of federal...
Explain the concept and value of benchmarking, and define the differences between internal and external benchmarking. Describe at least 1 internal and 1 external benchmark that risk managers can use...
Suzy was killed on a rainy hot summer night. Her business partner, Don, waited behind a muddy dirt hill and shot Suzy as she was unlocking her home entrance door. The District Attorney charged Don...
Create JavaFx program for an animate digital clock with Text hour(hh) at (x,y)= (50,50) and Text colon1(:) at (x,y) = (100,50), Text minute(mm) at (x,y) = (125,50), Text colon2(:) at (x,y) =...
Green Co. has a checking account at Red Bank and an interest-bearing savings account at Blue Bank. On December 31, Year 1, Green's bank records reflect the following information: Red Bank Bank...
Explain the environmental and safety considerations in crystallization processes, focusing on strategies to minimize hazardous waste, reduce energy consumption, and ensure process safety through...
Explain why generators are rated in KVA and not in KV?
True & False The basis of an asset must be reduced by the depreciation allowable, 2. Adjusted gross income (AGI) is the basis for a number of phase-outs of deductions. 3. A change to adjusted gross...
Martell Corporations 2015 sales were $12 million. Sales were $6 million five years earlier. To the nearest percentage point, at what rate have sales grown?
Describe the dividend discount model (DDM), P/E ratio, and economic value added (EVA) approaches used to value common stock. Under what conditions does each approach provide a good estimate of a...
Assume that the stock of Warner-Lambert Company, a pharmaceutical manufacturer, is currently selling for $75 per share. You have $7,500 of your own funds to invest. The brokerage firm that you use...
True or false? Explain: modularity reduces complexity because A. It reduces the effect of incommensurate scaling. B. It helps control propagation of effects.
True or false? Explain: hierarchy reduces complexity because A. It reduces the size of individual modules. B. It cuts down on the number of interconnections between elements. C. It assembles a number...
If one created a graph of personal friendships, one would have a hierarchy. True or false?

Albend Holmes wants to deposit $4,500 into a bank account that pays 8.25 percent per year. How

Question:

Expert Answer:

To calculate the number of years it will take for Albend Holmes investment to grow to ... View the full answer

Principles of Finance

Students also viewed these finance questions